Geospatial imagery analytics market trends will witness increasing traction, owing to rapidly advancing technologies that have allowed companies to adopt spatial tracking and imaging tools including remote sensors and wireless devices. The technology offers different ways in which maps could be produced and used by several public and private enterprises as well as communities. Researchers and GIS professionals using cloud computing to access any resourceful information related to geospatial data will expand the scope of geospatial imagery analytics industry.
APAC Geospatial Imagery Analytics Market Size, By Region, 2018 & 2025 (USD Million)
Governments seem have their own geospatial requirements – government agencies face critical challenges like providing information during emergencies or undertake initiatives towards building a smart community. Procuring geospatial data through different image capturing sources provides them access to detailed information to take decisions, such as those related to agricultural lands, which cover the complete jurisdiction and are updated regularly. These agencies have increasingly been adopting the services of satellite imaging firms, contributing significantly towards geospatial imagery analytics industry share.
There has been a surging demand for geospatial tools based on the cloud, to keep an organization’s infrastructure regularly updated and making it easier to map the records and manage them, at lower costs. In fact, the cloud-based deployment model in geospatial imagery analytics market will witness a decent growth rate of more than 25% between 2019-2025. Companies are now offering cloud GIS services through pay-per-use pricing models to enable more agencies gain access to geospatial data. This will eventually help consumers who do not have skills and resources required to achieve GIS implementations.
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The Geospatial Intelligence Center (GIC) in U.S. introduced a new tool in July 2019 for GSI users, called Virtual Inspection Studio (VIS), that enables users to enhance remote property assessment by using ultra-high resolution in aerial imagery. It can give assess to a 360 degree property view and accurate measurement of area and distance calculations. The United States Automobile Association (USAA) has demonstrated their use of VIS in quickly assessing damage and helping to settle claims. Similar use cases will boost the application of imaging solutions and reinforce geospatial imagery analytics industry outlook.
The defense and intelligence community utilizes geospatial imagery that is heavily dependent on image processing software, providing the benefits of multispectral imaging features. Hawkeye, a commercial satellite constellation operator, recently launched RFGeo that uses satellite generated data to introduce new geospatial analysis of data which the satellite delivers, in a standard format for a common tracking software. The company has also reached military market and has demonstrated the remarkable potential for geospatial imagery analytics industry in partnership with the intelligence community.
The construction, marine, defense and agriculture sectors use several aerial imaging platforms like surveillance cameras and drones in order to gather land related information that GIS professionals can use to solidify their decision making process. Government initiatives in Asia Pacific countries to develop the space industry will help enhance navigations systems to capture geospatial images which can be used to support numerous industrial applications. Reportedly, Asia Pacific geospatial imagery analytics market is anticipated to witness a more than 25% CAGR over the forecast timespan.
The Union Mine Ministry in India is exploring the use of drones that could work for mine related functions like surveillance, operation of mines, reclamation of land after mining and managing waste dumps. Large public sector units have been involved in the exploitation of these drones like National Mineral Development Corporation, Hindustan Copper Limited as well government organizations like Geological Survey of India and Indian Bureau of Mines. Substantial research and investment activities promoted by public enterprises will help drive APAC geospatial imagery analytics industry size.
Several companies are involved in the development and advancement of geospatial products that are experiencing high demand, with the fast-paced advancement of smart technologies, including Bentley Systems, AeroVironment Inc., Harris Corporation, PrecisionHawk, Inc. and Satellite Imaging Corporation. Strategic partnerships with other companies, governments and intelligence agencies will help bolster geospatial imagery analytics market size, which is estimated to surpass annual revenues of USD 8 billion by 2025.
Author Name : Riya Yadav
Growing emphasis on consumer satisfaction and safety has proliferated testing, inspection, and certification (TIC) services market size as governments worldwide have implemented stringent quality regulations on almost every industry vertical. Whether it is construction, automobile, energy, healthcare or other segments, continuous advancement in products and components have necessitated upgraded testing and certification requirements.
What are the factors that will drive TIC services market trends over the forecast period?
Improvements in management, product quality, manufacturing processes, supply chains and service value have become imperative for the growth of any business, imposing the need for TIC services, which would eventually augment the industry outlook. Existence of recognized certifications such as ISO:9001 or ISO/TS 16949 make it easier for customers to search for companies that provide excellent product quality, better customer service and new, innovative solutions.
The global TIC services market share is anticipated to exceed USD 260 billion by 2025, driven by the obligation of companies towards meeting specific product requirements and to comply with international quality standards.
How will transportation application segment help propel the TIC services industry share?
Besides helping to control the quality, effective testing and inspection processes aid in minimizing rejections, reduce manufacturing costs and identify reasons for a defective output. The transportation segment, in general, constitutes a major part of the global manufacturing industry where thousands of components or auto parts go through daily quality checks.
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As governments and international agencies are constantly raising the weight, material and other standards of automobile components to enhance the safety and efficiency of vehicles, the TIC services industry is subsequently gaining massive popularity. OEMs as well as small auto component vendors are striving to achieve high level of quality and get certified, to get documented and provide validity to their proficiencies and expertise.
Frequent inspection and evaluation of manufacturing processes by in-house or third party services to maintain a grip on the quality level will continually boost the TIC services market.
Will the life sciences segment help drive TIC services market outlook?
The TIC services market is rapidly witnessing demand from the healthcare and life sciences segment, with test and inspection reports of pharmaceutical equipment being critical in assessing whether the international standards are met. TIC companies are trying their best to evolve with technological developments and remain up-to-date with new regulations pertaining to safety and quality.
Products, apparatus and supply chains are subject to quality testing activities regularly, as pharmaceutical companies are responsible for providing vital therapeutic solutions. Even other parties involved in the supply chain must go through intense inspection by assigned representatives to be eligible to acquire critical certifications.
Author Name : Pankaj Singh
Heavy-duty trucks market projected to amass mainstream popularity over 2019-2025, global product penetration to depict an upsurge subject to a perpetually vast application terrain
Tesla’s latest Class 8 marvel is indeed a classic phenomenon that has posed several challenges for heavy-duty trucks market players. The automotive giant has unveiled the ‘Tesla Semi’ – its all-electric semi-truck that boasts of superior charging capacity and has been designed to travel from 0 to 60 mph in merely a 5-second span. In fact, towing a load of close to 80,000 lbs alongside, this truck can travel from 0 to 60 mph in just 20 seconds, setting quite a remarkable precedence for companies partaking in heavy-duty trucks industry share.
U.S. Heavy-Duty Trucks Market, By Class, 2018 & 2025, (USD Million)
What’s precisely noteworthy though, is not the Semi’s speed range or its aesthetic appearance, but the fact that it offers a transmission which requires no gear shifting with regenerative braking – essentially, a provision that delivers infinitesimal brake life for the vehicle. Endowed with such an amazing intrinsic design such as this, the Tesla Semi is certain to cause a stir in heavy-duty trucks market.
It is prudent to state that the Tesla Semi being a Class 8 wonder is an indicator of the fact that class 8 vehicles are indeed being pursued with renewed gusto by heavy-duty trucks industry players. In fact, a report by Global Market Insights, Inc., claims class 8 vehicles to accumulate a considerable portion of the global revenue in heavy-duty trucks market over 2019-2025, pertaining to their enviable ability to sustain heavy loads. Generally deployed for high-power applications such as construction and mining, class 8 vehicles are diesel-powered and have a gross weight vehicle rating of more than 33,000 lbs. Subject to the extensive demand for these beauties, companies have been sparing no expense in R&D activities, to bring forth newer class 8 vehicles endowed with superior features, that would ultimately help augment the sales graph of the overall heavy-duty trucks industry.
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Not so long ago, Daimler, one of the most prominent players of heavy-duty trucks market, had unveiled a prototype of its much-awaited vehicle at the Tokyo Motor Show. Daimler’s truck unit, Mitsubishi FUSO, claimed that its heavy-duty truck, called the E-FUSO Vision One, weighs more than 51,000 lbs and is capable of driving up to 220 miles on a single charge. The product was viewed as a cutthroat competition to Tesla’s Semi, leading to some level of consolidation in heavy-duty trucks industry. In consequence, it is undeniable that products endowed with superior properties and high-caliber innovations would prevail in this business space, thereby increasing the sales figures and the overall revenue of heavy-duty trucks market, which is anticipated to surpass USD 160 billion by 2025.
Unquestionably, renowned biggies have not been programmed to remain the underdog in heavy-duty trucks industry. In this regard, Volvo Trucks, the Sweden-based truck manufacturer, recently launched LNG and biogas powered, Euro 6-compliant heavy duty trucks, that apparently possess the same driving ability, fuel consumption, and performance level as that of Volvo’s diesel-powered vehicles. However, the proportion of carbon emissions from the all-new Volvo FM LNG and Volvo FH LNG is 20% to 100% lower than the diesel vehicles, based on which fuel is specifically chosen. Furthermore, these trucks are also available for heavy long-haul operations, with 420 hp to 460 hp, that may make them one of most sought-after vehicles in heavy-duty trucks market.
Most companies spanning across the competitive spectrum of heavy-duty trucks industry have lately been concentrating on cost-reduction methodologies. This paradigm shift, it has been observed, is being carried out through the introduction of novel remanufacturing business models that ultimately help to reduce the production expense. One of the pivotal factors responsible for the expansion of heavy-duty trucks market is the robust growth of the automotive domain, especially across the emerging economies.
In fact, heavy-duty trucks market players such as Toyota, Daimler, Ford Motor Company, Tata Motors, Volvo, and General Motors have strongly established bases across the developing geographies, owing to the convenient availability of resources coupled with a supportive regulatory frame of reference, which has proved to be rather lucrative for the overall business sphere.
It is imperative to mention that in the last half a decade or so, the prevalence of high-grade technological advancements, say for instance, such as telematics services and self-driving has increased to a rather commendable extent. As on today, these technologies are considered to be some of the key drivers that help expand the consumer pool for heavy-duty trucks industry players.
With tech-savvy clients willing to wield the convenience and flexibility of contemporary technologies, companies have been rapidly exploiting the latest tech-oriented mechanisms in product manufacturing, leading to increased vehicle sales and by extension, an escalated revenue collection for heavy-duty trucks market. With state-of-the-art technologies in action, in conjunction with the widespread penetration of truck fleets in several end-use domains, heavy-duty trucks market size is likely to depict a massive surge by the year 2025.
Author Name : Saipriya Iyer
India Aerospace & defense market to witness massive gains from rising cybersecurity concerns, Global revenue to surpass USD 23 billion by 2024
One of most profound factors driving the growth of India aerospace & defense market is the extensive number of initiatives undertaken by the Indian government. The government’s decision taken a few years before, for instance, to increase the FDI limit from 26% to 49% in the defense sector, is remnant of the fact that India aerospace & defense market represents a vital sector in the national landscape. The raise in the FDI limit had apparently permitted foreign institutional investors, venture capital organizations, and foreign portfolio investors to make maximum capital investments up to 24% in defense firms thereon. With the ample availability of a highly-skilled workforce and the ‘Make in India’ initiative gaining greater prominence across the country, Indian firms are expected to play a vital role in the aerospace & defense value chain comprising research & development, training, production, quality control, and maintenance, which would further transform India aerospace & defense industry outlook.
India aerospace & defense market size, by air solution, 2016 & 2024 (USD Million)
India procures nearly 70% of its defense supplies via imports, through which the country has earned the tag of being one of the largest importers of aerospace & defense equipment across the globe. The remainder of the 30% of defense equipment is supplied by the private sector, the Ordnance Factory Board (OFB), and the Defense Public Sector Undertakings (DPSU). A substantial number of components for the defense materials are also procured from the overseas. The Indian government has been undertaking tremendous efforts to overcome this drawback through its ‘Make in India’ Program, which may certainly have a remarkable impact on India aerospace & defense market trends in the ensuing years.
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In a recent move that has been anticipated to spur India aerospace & defense industry share, Sika Interplant Systems Limited, a Bangalore-based engineering firm providing services to marine, aerospace, and automotive sectors, has formed a joint venture with a UK-based aviation & aerospace giant, Aerotek Aviation Engineering Limited, in India. The strategic partnership is a part of ‘Make in India’ initiative and will offer services such as production and MRO (maintenance, repair, and overhaul) of landing gears for airplanes and helicopters. A recent unveiling of new aerospace & defense component manufacturing facility by Nucon Aerospace, a key participant across marine, ground & aerospace sector, in Hyderabad is also expected to provide a boost to the ‘Make in India’ program, which would ultimately stimulate India aerospace & defense market size.
Aerospace & defense equipment are extensively used by the Indian military, navy, and the air force. Thus, the large -scale production of aircrafts, communication equipment, helicopters, and missiles in the country have contributed significantly toward augmenting India aerospace & defense market revenue. In addition, the escalating need for increasing the aircraft fleet size with the inclusion of supporting aircrafts such as rescue, emergency & repair, and medic aircrafts have been forecast to impel the business landscape.
Major firms such as Bharat Dynamics Limited, Tata Advanced Systems Limited, Hindustan Aeronautics Limited, Lockheed Martin, BAE Systems AB, and Tata Power Strategic Engineering Division have been attempting to innovate numerous equipment, in a bid to substantially augment India aerospace & defense market share. Aided by substantial government support, India aerospace & defense industry size has been forecast to surpass USD 23 billion by 2024.
Author Name : Dhananjay Punekar
Outsourced customer care services market revenue to cross the 100-billion-dollar milestone by 2024, LATAM to drive the global industry
In a bid to concentrate on their core competencies, renowned firms have been outsourcing their operations. Outsourced Customer Care Services Market is expected to carve a profitable growth graph subject to this very factor. As per statistics, this market is anticipated to cross USD 110 billion by 2024, with a CAGR projection of 6% over 2017-2024. Outsourcing services provides several benefits to the firm, including improved operational flexibility, lowered overhead costs, and an elevated level of assured services. Of late, the demand for mobility services on a multitude of platforms have been increasing, which will further drive outsourced customer care services industry over the years ahead.
Philippines Outsourced Customer Care Services Market Share, By Service, 2016
Outsourced customer care services market is moderately fragmented and involves the presence of numerous SMBs. In order to sustain their business position, companies have been focusing on enhancing their service portfolio. In addition, the tried-and-tested strategy of acquisitions is also a rage in outsourced customer care services industry, which players have been adopting, in order to gain global prominence. For instance, Infosys and Microsoft Corporation had partnered in 2015 to provide the Finacle solutions suite on the Microsoft Azure, the enterprise-grade, cloud computing platform.
Many companies have been exploiting the numerous opportunities offered by outsourced customer care services market to extend their profit margins and meet client requirements. These services help businesses better manage their consumer base and cater to their requirements in a rather efficient manner. Companies of late, have been adopting cloud technology and big data analytics, which will spur outsourced customer care services industry. In addition, the rising technological advancements and varying customer requirements will propel the business trends.
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LATAM outsourced customer care services market is anticipated to carve out a lucrative growth path over the coming seven years. This growth can be credited to the increasing English-speaking population and the growing penetration of the Internet. Besides, the reduction in telecom rates and the presence of highly educated agents will also spur the regional growth. LATAM also has a significantly large Spanish-speaking population, and offers the advantage of bilingual agents. Besides, the geographic proximity to the U.S. is another driving factor that makes the region a popular outsourcing destination, propelling LATAM outsourced customer care services industry.
Outsourced customer care services market can be characterized by increased sales and high revenue, provided the players offer high-grade services such as contact center and managed charging & routing. In order to enhance the overall user experience, companies have been offering multichannel and multitiered technical and business support, in addition to network troubleshooting and other services. Helpdesk services are also provided by companies to improve retention, thereby fueling outsourced customer care services industry.
CRM technology hosting is one of most lucrative service segments of outsourced customer care services market. The demand for low cost services is expected to augment the growth of this service segment over the coming seven years. CRM technology provides flexible solutions for various consumer problems and helps them use the features as they desire. Besides, it has been observed that most firms are reluctant to shift their service offering to multiple channels, which will further spur outsourced customer care services industry share from CRM technology hosting services.
Outsourced customer care services market share from customer interaction is expected to rise significantly over the coming years. This growth can be attributed to the huge demand for quick problem recovery solutions. The primary aim of outsourced customer care services industry providers is consumer satisfaction, which will propel the business demand for customer interaction in the future. Subject to the goal of building and maintaining consumer relationships and fulfilling their demands in a way that they find convenient, outsourced customer care services market from customer interaction will gain a competitive edge over the next few years.
North America is one of the most lucrative business grounds for outsourced customer care services. Pertaining to huge demand for high quality consumer care and the rise in the infrastructural facilities, North America outsourced customer care services industry is anticipated to grow remarkably over 2017-2024. Besides, pertaining to the presence of skilled labor at low costs, companies have been outsourcing their operations to Asian countries such as India and Philippines, which will substantially propel North America outsourced customer care services market. Besides, the high cost of resources in the continent is further stimulating the regional demand. The U.S. is slated to be one of the key revenue contributors.
The competitive landscape of outsourced customer care services industry includes the participation of numerous giants such as Transcom Worldwide, Expert Global Solutions, Convergys Corporation, Aegis, Accenture, StarTek, Synnex Corporation, and Amdocs. While outsourcing services, it is essential to choose the most appropriate vendor. On these grounds, companies execute several testing methodologies to verify if their outsourced service portfolio is being launched with a reliable, well-known vendor. These corporations are being increasingly drawn toward the adoption of cloud computing and host-based services pertaining to their high efficiency and reasonable costs. Players operating in outsourced customer care services market also have to comply with the changing requirements of consumers and must be able to deliver services via multichannel solutions.
Author Name : Saipriya Iyer
Rise in construction activities along with growing concerns about worker safety to boost AWP truck market growth
Growing focus on infrastructure growth coupled with an increase in real-estate investments are predicted to boost the demand for aerial work platform trucks. Furthermore, the rising need for material handing in factories as well as in production activities is expected to boost the industry trends over the coming years. According to Global Market Insights Inc., “Aerial Work Platform (AWP) Truck Market share worth USD 2.4 billion in 2015, is estimated to reach USD 11 billion mark by 2024, growing at a CAGR of 18.5% over the period of 2016-2024.” Modernization in electrically propelled elevating platforms to fulfill emission norms and address the ecological concerns is expected to benefit the market in future. AWP trucks are predicted to find their use in various industries owing to its safety features, maneuverability, and ease of handling features.
China Aerial Work Platform Truck Market size, by product, 2013-2024 (USD Million)
The rising installations of power cables and transformer & street light maintenance is predicted to boost the market trends over the coming years. Large scale use of AWP trucks in mining & construction activities due to the high risks involved in the work is predicted to benefit the market. The rapid growth of telecommunications industry due to the growing number of smartphone users will fuel AWP truck demand. These vehicles find their use in event management activities such as organization of corporate events, conventions, conferences, festivals, formal parties, and concerts. They are also used in disaster management operations as well as defense activities.
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AWP truck applications in the construction industry is predicted to be worth USD 4 billion by 2024 owing to big construction projects along with heavy infrastructural growth. Logistics & Transportation industry is also predicted to witness high market penetration over the coming years, with vehicle applications worth USD 550 million in 2015.
Asia Pacific AWP truck market is forecast to record a CAGR of 18.7% over the period of 2016-2024 due to the growing number of mobile phone users coupled with the requirement of good telecommunication infrastructure.
North America AWP truck market size is anticipated to witness a substantial growth over the forecast timeline. U.S. market is predicted to contribute noticeably towards the regional growth due to high capital investments along with an increase in the renovation work activities in the country.
Driven by various applications in the construction, telecommunications, and transport & logistics industry, AWP truck is deployed in the form of vertical mast lifts, boom lifts, personal portable lifts, and scissor lifts.
Scissor lifts AWP truck market is predicted to grow at a CAGR of 18.3% over the period of 2016-2024 owing to its increasing demand in various applications requiring direct overhead access. Boom lifts AWP truck market contributed over 35% of the global industry share in 2015 and is expected to dominate the industry over the forecast period. Rising use of the vehicles to enable entry in blocked areas is projected to boost the industry demand.
Key industry players include Terex Corporation, Haulotte, Ruthmann, Aichi Corporation, Tadano Limited, CTE, Shen Yang North Traffic Heavy Industry, Hunan Runshare, Time Benelux, and Teupen.
Author Name : Dhananjay Punekar